Financial Aid

Student Consumer Information

FINANCIAL AID OFFICE MISSION: The Mission of the Financial Aid Office is to assist students in obtaining financial aid for their college education while complying with all federal, state and institutional regulations, and by offering optimal customer service to students, parents, staff and outside agencies.

WHAT IS FINANCIAL AID? Financial aid consists of funding provided through federal and state governments and institutional sources to help cover educational expenses. This funding consists of grants and scholarships that do not have to be paid back to the provider and loans that have a variety of repayment options.

CONSUMER INFORMATION: Liberty University, as permitted by federal regulation [34 CFR 668.41], electronically disseminates consumer information, including the Jeanne Clery Disclosure of Campus Security Policy and Campus Crime Statistics Act information. Upon request, the institution will provide a free paper copy. Anyone signing or processing financial aid forms or seeking information or assistance at Liberty University must read, understand, and comply with the requirements disclosed, which are available 24 hours a day at www.Liberty.edu/ConsumerInfo.

By the rules and regulations set forth from the government in the Federal Student Aid Handbook, Volume 5, Chapter 2, pages 5-97, federal regulation 34CFR 668.22(i) states:

A school must return Title IV funds to the programs from which the student received aid during the payment period or period of enrollment as applicable, in the following order, up to the net amount disbursed from each source:

Unsubsidized Federal Student loans

Subsidized Federal Student loans

Unsubsidized Direct Student loans (other than PLUS loans)

Subsidized Direct Student loans

Federal Perkins loans

Federal PLUS loans

Direct PLUS loans

Federal Pell Grants for which a return of funds is required

Academic Competitiveness Grants for which a return of funds is required

National Smart Grants for which a return of funds is required

Federal Supplemental Educational Opportunity Grants

(FSEOG) for which a return of funds is required

LENDING STATEMENT: Liberty University does not recommend specific student loan lenders. Students may borrow from any lender that offers educational student loans. Liberty University encourages students to borrow only what is absolutely needed to prevent future debt.

Regulation effective July 1, 2000: Students who have been convicted under federal or state law for possession or sale of a controlled substance will be suspended from Title IV [financial aid] eligibility, regardless of when the conviction occurred.

If a student is convicted of an offense involving the possession of an illegal substance, the ineligibility period is:

First Offense = 1 year from date of conviction

Second Offense = 2 years from date of conviction

Third Offense = Indefinite period

If the student is convicted of an offense involving the sale of an illegal substance, the ineligibility period is:

First Offense = 2 years from date of conviction

Second Offense = Indefinite period

A student may regain eligibility by successfully completing a drug rehabilitation program that complies with criteria established by the U.S. Department of Education.

A qualified drug rehabilitation program must include at least two unannounced drug tests and must satisfy at least one of the following requirements:

Be qualified to receive funds directly or indirectly from a federal, state, or local government program.

Be qualified to receive payment directly or indirectly from a federally or state-licensed insurance company.

Be administered or recognized by a federal, state, or local government agency or court.

Be administered or recognized by a federally or state-licensed hospital, health clinic, or medical doctor.

The period of ineligibility begins as of the date of the conviction. A conviction is defined as a conviction that is on a student’s record at the time the student’s eligibility is being determined. A conviction that was reversed, set aside, or removed from the student’s record is not relevant.

An illegal drug is a controlled substance as defined by section 102(6) of the Controlled Substances Act [21 U.S.C. 801(6)] and does not include alcohol or tobacco. Students may obtain additional information on eligibility by contacting the U.S. Department of Education at 1-800-433-3243 or go to http://www.fafsa.ed.gov.

LOCATING FREE STUDENT CONSUMER INFORMATION

Many publications on campus provide necessary consumer information for student use as required by the federal government. The following is a list of those publications:

Federal Financial Aid Handbook

Federal Funding Your Education Guide

Liberty University Admissions Application

Liberty University Bill

Liberty University College, Graduate, Law, Seminary Catalogs

Liberty University College, Graduate, Law, Seminary Viewbooks

Liberty University Faculty and Staff Employment Handbooks

Liberty University Financial Aid Notice of Award

Liberty University Resident Financial Aid Brochure

Liberty University Student Aid Guide – Liberty University Online

Liberty University Student Aid Guide – Resident

Liberty University Student Life Handbooks and Policy Information Statistics Act

As of May 2014, undergraduate students who graduated from Liberty University borrowed an average of $21,410 through federal and private loan programs. This average includes students who graduated without borrowing any student loans.

As of May 2014, undergraduate student-borrowers who graduated from Liberty University, borrowed an average of $29,719 through federal and private loan programs.

Please note that the averages listed above are based on actual data from 7,014 Liberty University students who graduated last year. Some private and government websites will calculate averages using other methods, different student groups, and/or different years.

Graduation Rate Information: Liberty University’s Fall 2007 6-year cohort graduation rate is 46% federally defined. However, please note this rate only reflects about half of our students (first-time, full-time students in Bachelor degree programs who have not taken any college credit courses prior to enrollment (i.e. dual enrollment, community college coursework)).

Incoming resident undergraduate students with at least a 3.0 high school GPA and complete their first year have a graduation rate of 77%.

*Please note that the federal definition of a cohort is limited and excludes many students including those who earned college course credit prior to enrollment at Liberty University.

The six year rates above also do not yet reflect the effects of current initiatives designed to improve student retention and graduation. Examples include new creatively designed academic programs, new need-based and academically based scholarship programs, new support services, and new academic intervention programs.